Wednesday, December 21, 2016

COMMENTARY: Protect elderly from holiday scams

The typical Texan’s bank account takes a hit during the holidays,
with gifts to give, parties to attend and travel. But for far too many
older Texans, the economic jolt felt this time of year takes on a more
sinister meaning.

Already prone to experiencing loneliness and
isolation during the holidays, older people also are prime targets of
fraudsters during this festive period.

Whether it’s a scam
perpetrated by a stranger or financial exploitation by a trusted source
or relative, the impact goes far beyond the pocketbook and affects the
physical and emotional health of the victim. Every year, abuse and
exploitation rob older Americans of an estimated $3 billion — and this
is only the amount reported.

During
the holidays, the financial stakes are great, with money exchanging
hands and older adults in closer proximity to family. Many of us have
heard about the “grandparent scam.” A year-round favorite of fraudsters,
during the holidays it can come decorated with a special plea: A loved
one in trouble and needing money to fix a car, get out of jail, or to
make it home for the holidays.

And there’s the ever-popular “IRS
scam,” which takes on a vicious twist in December and January. A caller
threatens an elder with the possibility of arrest and spending the
holidays in jail for unpaid taxes or a fake debt. Now is also when
imposter charities surface, typically making a sympathetic plea for
year-end, tax-deductible donations.

Opportunities abound this time
of the year to financially exploit a trusting elder. When a criminal
takes advantage of an older person by forging a signature or coercing
them to sign a will, it takes a toll on the physical and emotional
health of the victim. These criminals may be a stranger, an aide who
comes into the home or someone else in a position of trust, like a
family member. If you suspect someone you know is vulnerable to
financial fraud or exploitation, take action. Keep an eye on your loved
ones, their spending patterns and any new connections they may not want
to talk about. AARP has good advice available online through its Fraud
Watch Network at www.aarp.org/fraudwatchnetwork.

But
remember, grinches don’t go away after the holidays; they operate
year-round. That’s why AARP is fighting for new laws, policies and
practices to crack down on abuse and financial exploitation, and seeks
to strengthen protections for victims.

The Texas Legislature is
exploring ways to curb financial exploitation of the elderly. When the
new legislative session begins Jan. 10, AARP will support efforts to
fight elder abuse and exploitation, including in the area of prevention.
Local banks and credit unions can play a vital role in preventing and
responding to elder financial abuse. That’s why AARP Texas is urging
better training and reporting by financial institutions so that bank
employees can spot and stop suspicious transactions before someone is
scammed.

We
also need to preserve and strengthen state Adult Protective Services
(APS), which investigates complaints about financial exploitation of the
elderly by individuals who have an ongoing relationship with the
alleged victim. APS’ jurisdiction should be expanded to include the
ability to investigate financial exploitation complaints against those
without an ongoing relationship with the alleged victim.

And very
importantly, we need to better support community coordination models.
Victims of elder financial exploitation are often confused about where
to turn for help. Fraud-fighting efforts like the Elder Financial Safety
Center in Dallas are working successfully to prevent, protect and
prosecute financial crimes. More of these community coordination models
are needed in Texas.

Texas’ population age 65 and older is set to
more than double from 2010 to 2030. This means more opportunities for
scammers. But with education, vigilance and smart legislation, older
Texans can be protected in the holiday season and year round.

Tim Morstad is an associate state director for AARP Texas, specializing in consumer and financial affairs.

Follow NASGA's Facebook Page

Twitter Updates

Twitter Updates

Follow NASGA on Linked-in

Google+ Followers

Help Support NASGA!

Another great way to donate to NASGA is by doing your online shopping with Goodshop!
They will donate up to 20% of your purchases back to us and offer great savings at places like Neiman Marcus, Adidas, and Sundance Catalog.
So, you can save money and help us stop guardian abuse too!

Follow by Email

NASGA supports

Disclaimer

Victim stories are written and submitted by individual victims. NASGA has no knowledge or responsibility as to the accuracy or validity of their statements. Use of any such story or information contained therein in any manner is not authorized without prior written consent from NASGA or the individual author.

Comments on this site are moderated. NASGA reserves the right to accept, reject or delete any comments posted. Comments are the sole responsibility of the sender.

This site contains links to web sites controlled or offered by third parties (non-affiliates of NASGA).

NASGA hereby disclaims liability for any information, material, products, services, or any other, posted or offered at any of the third-party sites. By creating a link to a third-party site, NASGA does not endorse or recommend any products or services offered. NASGA further disclaims liability for the content, security, validity or accuracy contained in said third-party sites.

NASGA Followers

NASGA

NASGA (National Association to STOP Guardian Abuse, Inc.) is a 501(c)(3) public-interest, civil rights organization formed by victims of unlawful and abusive guardianships and conservatorships. We seek legislative reform of existing law and upgrading of criminal penalties for court-appointed fiduciaries misusing protective proceedings for unjust enrichment and engaging in elder and family abuse.

Our mission is to promote the safety and well being of vulnerable persons subject to injury and damage in their person and property through unlawful and abusive guardianship and/or conservatorship proceedings; to end the growing violations of due process, civil and human rights; to work towards ultimate legislative reform of guardianship as presently practiced; upgrading of criminal penalties for court-appointed fiduciaries misusing protective proceedings for unjust enrichment; and to be a support organization for victims and their families. We carry out our mission through research, outreach, education and advocacy; and going forward, by alliance with community interest, law reform, civil rights and other advocacy organizations.

Any copyrighted material included herein is distributed in accordance with the Fair Use section of 17 U.S.C. 107, in the interest of public research and education, without profit.

NASGA claims no credit for any images posted on this site. If there is an image appearing on this blog that belongs to you and you do not wish for it to appear here, please E-mail at Info@StopGuardianAbuse.org with a link to the image and we will promptly remove it.

Comments and opinions posted to our Blog are our readers - not NASGA. We do not censor comments, and we welcome opposing views. We do reserve the right, however, to delete any submitted comment which contains foul or obscene language.

Please visit our website by clicking the link below for more information on how you can help stop guardianship / conservatorship abuse.